Nigeria’s leading mobile payments company, Paga is following up its recent cross-border remittance partnership with TerraPay and MoneyTrans with another one with MFS Africa.
The partnership with MFS Africa, a leading Pan-African fintech company, will connect Paga users and Nigerian bank account holders to remittance senders from around the world.
Specifically, the partnership will ensure Paga wallet holders are able to receive transfers from other mobile money users across Africa, or from any money transfer operator connected to the MFS Hub.
“Together with MFS Africa, Paga is linking millions of mobile wallet users and bank account holders for seamless transactions across networks and across borders,” said Jay Alabraba, co-founder and Director of Business Development of Paga.
Besides making money transfers from other African countries, and across the world, into Nigeria possible, the partnership also brings down the cost of doing so.
Compared to money transfers from across the world into Africa, intra-Africa money transfer is more expensive – costs 20% on average as against the 7% global average.
Using mobile wallet technology and vast agent networks, the partnership will dramatically bring down the cost of transfers, while increasing accessibility and transparency at the same time.
“For the last few years, everyone has been looking to the Nigerian market, wondering when and how mobile money would take off,” said Dare Okoudjou, founder and CEO of MFS Africa.
He added, “We’re excited to finally welcome Nigeria onto the MFS Hub with Paga, and to connect more and more of our mobile network and money transfer operator partners to Paga’s users.”
Article Source: Techloy.com